AP Employees Welfare Scheme (EWS) GIS Revised interest Slab Rates 2017

#AP GO MS 13 AP Employees Welfare Scheme (EWS) GIS Revised New  interest Slab Rates  Employees Welfare Scheme (EWS) Andhra Pradesh State Employees Group Insurance Scheme (AP GIS) 1984 Revised Rate of Interest on accumulated Savings Fund – Communication of Tables of Benefits for Savings Fund for the Period from 01.01.2016 to 31.12.2016  Revised Table Orders  Issued. FINANCE (ADMN.DI&IF) DEPARTMENT G.O.MS.No. 13 Dated: 24-01-2017  Read the following:-

AP Employees Welfare Scheme (EWS) GIS Revised interest Slab Rates 2017  (New):

  1.  G.O.Ms.No.293, Finance & Planning (FW.Accts.II) Dept., dated: 08.10.1984. 
  2. G.O.Ms.No.312, Finance & Planning (FW.Admn.II) Department, dated: 06.11.1984. 
  3. G.O.Ms.No.367, Finance & Planning (FW.Admn.II) Department, dated: 15.11.1994. 
  4. G.O.Ms.No.381, Finance & Planning (FW.Admn.II) Department, dated: 05.12.1994. 
  5. G.O.Ms.No.382, Finance & Planning (FW.Admn.II) Department, dt: 05.12.1994. 
  6. G.O.Ms.No.99, Finance (Admn.II) Department, dated: 06.08.2015
  7. G.O.Ms.No.1638, Finance (HR.V) Department, dated: 27.06.2016. 
  8. Letter No.02/GIS-I/2016-17, dt: 27.06.2016, 27.07.2016, 30.08.2016, 19.10.2016 and 14.12.2016 of the Director of Insurance, A.P., Ibrahimpatnam. 

O R D E R:

In the reference 1st read above, orders were issued introducing Group Insurance Scheme to the State Government Employees in place of Family Benefit Scheme with effect from 01.11.1984. According to Para 9 of the reference 1st read above, the accumulations of Savings Fund part and Insurance Fund part shall carry interest at the rates prescribed by Government from time to time.
2. In the reference 2nd read above, orders were issued for apportioning the subscription of each unit of Rs. 10/- between Insurance Fund and Savings Fund in the ratio of Rs. 3.125 paisa and Rs. 6.875 paisa respectively.
3. In the reference 3rd above, orders were issued for revision of rate of subscription each unit from Rs. 10/- to Rs. 15/- with effect from 01.11.1994. In modification of the Para 9 of the Government orders 1st read above, orders were issued vide reference 4th read above, for fixing the interest on the accumulations of the Savings Fund of the Member of the Scheme for the State as a whole and shall be paid at the Rate of 12 % per annum compounded Quarterly with effect from 01.11.1994.In the reference 5th read above, orders were issued for apportionment of the subscription of each unit Rs. 15/- between Insurance Fund and Savings Fund in the ratio of Rs.4.50/- and Rs. 10.50/- respectively with effect from 01.11.1994. The amount of Insurance coverage will be Rs. 15,000/- for each unit of subscription.
4. The rate of interest on accumulations of Savings Fund of the Member of the Scheme and the interest on the Insurance Fund from time to time is as follows:-

Rate of
Government Order
G.O.Ms.No.293, Finance & Planning (FW.Accts.II)
Department, dated: 08-10-1984.
G.O.Ms.No.381, Finance & Planning (FW.Admn.II)
Department, dated: 05-12-1994
01-04-2000 to
G.O.Ms.No.63, Finance & Planning (FW.Pen.II) Department,
dated: 06-06-2000
01-04-2001 to
G.O.Ms.No.345, Finance & Planning (FW.Pen.II)
Department, dated: 07-07-2001
01-04-2002 to
G.O.Ms.No.703, Finance & Planning (FW.Pen.II)
Department, dated: 19-07-2002
01-04-2004 to
G.O.Ms.No.625, Finance & Planning (FW.Pen.II)
Department, dated: 02-09-2004
01-12-2011 to
G.O.Ms.No.2425, Finance (FW.Pen.II) Department, dated:
01-04-2012 to
G.O.Ms.No.2735, Finance (FW.Pen.II) Department, dated:
01-04-2013 to
G.O.Ms.No.2142, Finance (FW.Pen.II) Department, dated:
01-04-2016 to
G.O.Rt.No.1638, Finance(HR.5 Pen.GPF)deptt dated 27-

 In the reference 7th read above, Government have issued orders to reduce the rate of interest from 8.7% to 8.1% per annum on the Provident Funds and other similar Funds i.e. Andhra Pradesh Government Life Insurance Funds maintained by the Government of Andhra Pradesh on par with rates of Government of India until further orders. 
6. In view of the above circumstances and after careful examination of the matter, Government hereby order that, the revised rates of interest on the Andhra Pradesh Group Insurance Savings Funds shall be allowed at 8.1% per annum from 01.04.2016 onwards. The Table is revised and issued for the periods covering from 01.01.2016 to 31.12.2016 to keep in align with the calendar year as was done by Government of India. (The revised Table is appended to the GO along with illustrations Sheet). This simplified Table is applicable to those who are retired /deceased from 01-01-2016 to 31- 12-2016 i.e. calendar Year 2016 only. The employees who were retired/died on or before 31-12-2015 old tables are applicable

* Interest Rates Ap Employees Welfare Scheme (EWS) GIS Revised interest Slab Rates 2017 Download Here